Inflation up 2.6 percent in two months

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Inflation up 2.6 percent in two monthsInflation has risen by nearly 2.6 percent in the year to date, according to the National Financial Supervisory Commission (NFSC).

But inflation in February was up just 1.32 percent on the previous month – the lowest February increase since 2010.

The NFSC attributed the modest increase to weak demand and monetary factors that contributed to inflationary pressures. Vietnam’s efforts to control inflation in 2013 mainly depend on its price management policy.

The inflation rate stood at around 8 percent between May and August 2012, increasing to 10 percent by the end of the year.

Since last December, the rate was maintained at 12 percent. The NFSC noted that the ongoing process of bad debt resettlement should take into account the circulation of capital in order to keep inflation in check.

The NFSC was optimistic about the 2013 goal to reduce inflation to 6.8 percent given the January and February consumer price index (CPI) was estimated at 7.04 percent and 7.02 percent, respectively.

The World Bank’s latest report predicted that market prices will not experience strong fluctuations this year, though the global food prices will rise, with the exception of rice.

(VOV)

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